Chevy teams confirm GM cutbacks on the way
9 Comments Quote selected text Published June 18th, 2009 in NASCAR News
General Motors will reduce its financial support in the Sprint Cup series, officials from several Chevrolet teams confirmed on Wednesday.
Hendrick Motorsports, Stewart Haas Racing, Earnhardt Ganassi Racing and Richard Childress Racing officials said they have been asked to participate in cutbacks by the U.S. auto manufacturer that recently filed for Chapter 11 bankruptcy. Officials did not say how large the cuts would be.
“We had very productive conversations this week with the folks at General Motors, and it’s clear they are committed to racing and committed to our organization,” said Rick Hendrick, owner of Hendrick Motorsports in a statement. “They’ve asked us for some help, and we’re going to give it to them.
“We’re proud to be a Chevy team, and we will do our part to support the new GM both on and off the racetrack.”
Tony Stewart, the co-owner of Stewart-Haas Racing and Sprint Cup point leader, echoed Hendrick’s sentiments.
“We have been, and will continue to be, strong supporters of GM and its Chevrolet brand,” he said. “These are tough times for our auto industry, and in light of what’s happening to them and how it affects all the people who make a living building and selling cars and trucks, the sacrifices we’ll have to make as a race team are pretty weak in comparison.
“We believe in the products GM has now and in the products they’re building for the future. We’re proud to carry the Chevy bowtie on the hoods of our racecars, and we support GM in this time of uncertainty because we know they’ll be an even stronger company in the years to come.”
Stewart said the cutbacks will force teams to review their budgets, but “it will not impact our preparation for the track or the return on investment we provide for our partners.”
I bet that 6 million Chevy Joe Gibbs payed last year to get Smoke out of his contract early could have been better spent.
I was thinking the same thing, than I realized he is leading so in truth, 6 mil is chump change for the performance tony brought.
/That was the best 6 million that have ever spent….Stewart/ Hass racing has giving Chevy great advertising.
Well SHR has been good for chevy but let’s face it this is another example og poor money management by GM.I got a lot of the american GM factory workers would like to have seen that money put to better use, along with the other millions in frivilous spending.
Business must advertise! The autoworkers have made off like bandits for years. Now GM is paying the price.
Business is also making a good product which is part of there problem. Yes the autoworkers have made out but there are plenty who haven’t made out. Let’s face this old assumption that nascar wins on sunday sells on monday isn’t like it was years ago. Even if it was the money they give nascar from sponsoring races to commercial to research and development of teams would have to result in huge car sales and we all know that’s not and hasn’t been happening for a very long time.
Sam wrote:
what about the bulk of bailout money going directly to the UAW . ? that aint right either
wrote:
Absolutely correct! what just happened to Chrysler and GM is call corporatism! The Uaw is call the shots and that is a fact.
CHEVY ARE NASCAR PRETTY BOYS IF THEY CANT WIN THEY CRY